XML 29 R19.htm IDEA: XBRL DOCUMENT v3.25.1
Debt
 3 Months Ended
Mar. 31, 2025
Debt Disclosure [Abstract]  
Debt Debt
Short-term borrowings and long-term debt consist of the following:
March 31, 2025December 31, 2024
 (In thousands)
Debt of Amkor Technology, Inc.:   
Senior notes:   
6.625% Senior notes, due September 2027
$525,000 $525,000 
Debt of subsidiaries:   
Amkor Technology Korea, Inc.:
Term loan, fixed rate at 3.95%, due May 2027 (1)
— — 
Term loan, fixed rate at 2.12%, due December 2028
200,000 200,000 
Amkor Technology Japan, Inc.:
Short-term term loans, variable rate (2)— — 
Term loan, fixed rate at 1.20%, due December 2025
10,903 13,868 
Term loan, fixed rate at 1.23%, due December 2026
30,575 33,333 
Term loan, fixed rate at 1.59%, due December 2027
57,582 59,923 
Term loan, fixed rate at 1.80%, due December 2028
87,523 89,059 
Term loan, fixed rate at 2.05%, due December 2029
108,329 108,779 
Amkor Assembly & Test (Shanghai) Co., Ltd.:
Term loans, SOFR plus 0.75%, weighted average of 5.06% as of March 31, 2025, due June 2025
35,000 35,000 
Term loans, SOFR plus 0.75%, weighted average of 5.06% as of March 31, 2025, due 2025
55,000 55,500 
Term loans, SOFR plus 0.95%, weighted average of 5.25% as of March 31, 2025, due December 2026
44,000 44,000 
Other:
Senior secured revolving credit facility, applicable bank rate plus 1.75%, due March 2027 (Singapore) (3)
— — 
1,153,912 1,164,462 
Less: Unamortized discount and deferred debt costs, net(4,590)(5,002)
Less: Short-term borrowings and current portion of long-term debt(236,459)(236,029)
Long-term debt$912,863 $923,431 
(1)In April 2021, we entered into a ₩80 billion term loan agreement with the option to borrow and re-borrow the funds up to six times per year through April 2024 at a fixed rate of 1.85%. In May 2024, we replaced this loan by entering into a ₩80.0 billion (approximately $59 million) term loan agreement with the option to borrow and re-borrow the funds up to six times per year through May 2027. Principal is payable at maturity, and interest is payable monthly, at a fixed rate of 3.95%. As of March 31, 2025, ₩80.0 billion, or approximately $54 million, was available to be drawn.
(2)We entered into various short-term term loans which mature semiannually. Principal and interest are payable in monthly installments. As of March 31, 2025, $3.3 million was available to be drawn.
(3)In March 2022, Amkor Technology Singapore Holdings Pte. Ltd. (“ATSH”) entered into a $600.0 million senior secured revolving credit facility (the “2022 Singapore Revolver”), which is guaranteed by Amkor Technology, Inc., Amkor Technology Taiwan Ltd. (“ATT”) and Amkor Advanced Technology, Inc. (“AATT”).
The maximum borrowing capacity under the 2022 Singapore Revolver is limited to a base amount equal to the lesser of: (1) $600.0 million; or (2) $250.0 million plus a variable amount equal to 37.5% of our consolidated accounts receivable balance. As of March 31, 2025, $600.0 million was available for future borrowings under the 2022 Singapore Revolver.
Certain of our foreign debt is collateralized by the land, buildings, equipment and accounts receivable in the respective locations. As of March 31, 2025, the collateralized debt balance was $628.9 million, of which $292.4 million of assets were pledged as collateral.
The debt of Amkor Technology, Inc. is structurally subordinated in right of payment to all existing and future debt and other liabilities of our subsidiaries. From time to time, Amkor Technology, Inc., ATT, AATT, and ATSH guarantee certain debt of our subsidiaries. The agreements governing our indebtedness contain affirmative and negative covenants which restrict our ability to pay dividends and could restrict our operations. These restrictions are determined in part by calculations based upon cumulative net income and do not currently have a material impact on our ability to make dividend payments or stock repurchases.
We were in compliance with all debt covenants at March 31, 2025.